Eurogroup elects Greek Minister Pierrakakis as new president

This Thursday, Eurozone Finance Ministers unanimously elected their Greek colleague Kyriakos Pierrakakis as the new president of the Eurogroup after the unexpected departure of Irishman Paschal Donohoe, European sources told Europa Press.

The appointment of Pierrakakis, … who will assume a renewable mandate of two and a half years on Friday, comes a decade after the agreement of Greece’s third consecutive bailout plan after the financial crisis.

Pierrakakis scored a victory against Belgian Minister Vincent van Peteghem, the only candidate in a race advanced by the unexpected resignation of Donohoe and without more opponents, after Spanish Minister Carlos Corpus withdrew from the competition after an initial defeat last July.